For a monopolist, if price is above average total cost, the monopolist is:
- Earning positive or economic profit
<h3>What is positive profit?</h3>
A positive profit is earned when the revenue being made surpasses what is normal on the competitive scale. The cost of production is covered and surpassed in this case.
So when the monopolist fixes his price above the total cost, he will earn a positive profit.
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Answer:
This probability can not be true
Explanation:
This probability can not be true because probability is between 1 and 0
Answer: The son is 1 year old and the father is 27 years old.
Explanation: Let’s call the sons age x and the fathers is y. You have the equations x+26=y and 3(x+8)=y=3x+24. So you could say that (3x-24)-(x+26)= z -z. So 2x-2=0. Add 2 to both sides and get 2x=2. x = 1 so the son is 1 year old
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